Frequently Asked Questions
Some individuals do not have to lodge a tax return. Each person's situation will differ due to age, income and expenses. Seek expert advice from our office experts.
When your tax return is complete and ready to lodge, you can either digitally or physically sign your return.
Yes, MultiTAX can either do appointments over the phone or in office for your convenience.
Most refunds will be issued within 10-12 business days. If you haven’t received your refund after more than 21 days, get in touch with Multitax and we’ll chase it up for you.
Yes, we can collect our fee from your tax refund or you can pay upfront.
If you provided us with valid Australian bank account details in your return, your refund will be paid directly to your account.
At MultiTAX we’ll make every effort to get your tax return back to you as soon as possible. Of course any delays experienced by the Tax Office are out of our hands, but we are committed to do everything in our power to get your refund back in the quickest time possible.
Yes, we specialise in Late or Multiple year tax returns. At MultitTAX we can help you prepare and lodge all past year’s tax returns in the one appointment. No matter how far behind you are, we can help.
Please lodge your tax return with Multitax by October 31st each year to avoid paying failure to lodge penalty.
You may receive a fine or interest penalty charge from the ATO if you lodge your return late. Generally if you are entitled to a refund those penalties are minimal. If you have Late or multiple year tax return outstanding, or you have a ‘failure to lodge’ penalty that is issued by the Australian Taxation Office, we can help at Multitax by applying for remissions for penalty and interest.
It is preferred to have your payment summaries. In most cases we can collect all your information from the Australian Tax Office (ATO).The ATO collect information about your income from employers, banks, centerlink, etc. We can then match this information to help you lodge your tax return.
If you are still missing one or more of your Payment Summaries and the missing information are not found on the ATO records then you need to contact that employer. If you can't get one from that employer then contact the Tax Office on 13 28 61. Don't forget to include all your payment summaries, even if you've only worked in a job for a couple of weeks.
It is preferred to have your payment summaries. In most cases we can collect all your information from the Australian Tax Office (ATO).The ATO collect information about your income from employers, banks, centerlink, etc. We can then match this information to help you lodge your tax return.
The tax you are required to pay is calculated on your total income earned during the whole year. Whether all your income is earned in 1 day or 12 months makes no difference.
Yes, we will let the ATO know we are preparing your Tax returns and to call MultiTAX from now on.
If you believe this is incorrect, you should contact your bank to verify the income details for your accounts. The bank should notify the ATO in writing if this information is not correct.You have 28 days to correct this information. However, if you have omitted the taxable income, you will not need to contact the ATO. They will amend your return and send you a new assessment requesting payment of the additional tax, a general interest charge and, in some cases, penalties.
You do not have to lodge a full tax return. You can complete the Refund of Franking Credits for Individuals form which can be lodged by telephone or mailed to the ATO.
If you’re just getting started, starting a business involves a number of tax obligations and registrations you need to consider. To register your business you’ll need to get a Tax File Number (if you’ve selected an entity other than sole trader), an Australian Business Number or CAN and registering your business name. Tax registrations include GST, PAYGW, PAYGI and FBT to name a few. Depending on the nature of your business some of these will be compulsory. MultiTAX can help by sorting this out for you. We can set them up on your behalf.
Your personal information will reside in our database. In accordance with Privacy Laws, your information will not be disclosed to any other party without your prior consent.
You do not have to lodge a full tax return. You can complete the Refund of Franking Credits for Individuals form which can be lodged by telephone or mailed to the ATO.
You are required to provide written evidence to claim a tax deduction if your total expense claims exceed $300. If your total expense claims total less than $300 the provision of receipts is not required at all. Furthermore, there are some deductions we can claim without receipts. E.g. motor vehicle expenses, Laundry, home office expenses, etc.
You must keep your records for 5 years from October 31st (or if you lodge late, five years from the date you lodge your return). If at the end of this period you are in dispute with the ATO, you must keep you records until any dispute is resolved.
The ATO will only accept the following: •A receipt from supplier of the goods or services In place of a receipt, the following documents are also acceptable, as long as they contain (the supplier name, ABN, date, items description) •Bank statements• Credit card statements• BPAY reference numbers• Email receipts• PAYG payment summary• Paper or electronic copies of original documents For small business evidence recorded by you without a receipt is only acceptable for expenses of $10 or less, as long as the total of these expenses does not exceed $200 (parking tickets etc)
Only study directly related to your current job may be claimed as a self-education expense. For example if you were a hairdresser and you were studying bookkeeping then you wouldn't be able to claim the cost of the course as a work related expense - even if you were looking for work as an accountant.
Trips between home and work are generally considered private travel and therefore not tax deductible except in certain circumstances. Travel between jobs on the same day and travel for work (ie. visiting clients, doing pick-ups or deliveries) would be claimable. If you use public transport then keep all receipts and/or diary records. If you use your own car then you need to keep a log book of all business mileage travelled and all expenses of the car including fuel, repairs, registration, insurance and interest on a car loan. At MultiTAX we will help you use the best motor vehicle method for a maximum tax saving.
Up until 2015, there were four ways to calculate work related car expenses on your tax return. From 2015 there are only two methods: • Cents per km method • Log book percentage claim (12 week log book required)
Deductions for uniforms can only be claimed if the work uniform is specific and identifiable to your organisation (such as chef's checked pants) or protects you from injury whilst you are at work. You can't claim the cost of a plain uniform or conventional clothing, such as white shirt and black pants or skirt which is commonly worn by waiters and waitresses, even if your employer tells you to wear them.
The amount you can claim will depend on the income levels of you and your individual family members, the age of your children and any amount already received through Centrelink payments. It is, therefore important that you bring all these details with you when you attend our office to have your return prepared.
You can claim a deduction for your related expenses for the period your property is rented or is available for rent. Some expenses can be claimed immediately while capital work expending can be deducted over a number of years.
Some taxpayers might be exempt from capital gains while others may have to pay tax on their capital gains. It differs from one individual to another. Our experts at MultiTAX can help you prepare your capital gains or losses schedule in your tax return.
Give us a call either on landline: 1300 420 195. Also, you can send us an email: [email protected], or use our get in touch form to send us a direct message.
Monday - Friday: 09:00AM - 05:00PM & Saturday: 09:00AM - 01:00PM. We are closed on Sundays.